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Tiffany & Co.

At a Glance

Summary

Bartlomiej Walentynski began an assessment of Scope 3 emissions to help increase insight into the carbon footprint of Tiffany & Co.’s value chain in connection with its long-term climate objectives.

Goals

Tiffany & Co., the internationally renowned luxury jeweler, enlisted EDF Climate Corps fellow Bartlomiej Walentynski to assess value chain climate impacts as part of its Net Zero by 2050 aspiration. Bartlomiej was tasked with educating internal stakeholders on Scope 3 GHGs, developing an initial data collection and validation approach and performing data analytics. Having just begun its work on Scope 3 emissions, the company needed to benchmark and understand its footprint, as well as determine potential next steps.

Solutions

Working with the Global Sustainability Department, Bartlomiej organized a number of meetings with multiple business units to collect financial and operational data to inform baseline Scope 3 GHG emissions estimates. After assessing global data, he put together an analysis of eight out of twelve Scope 3 categories which had initially had been identified as potentially relevant for Tiffany & Co. His analysis revealed that Scope 3 GHG emissions may account for the largest source of its total Scope 1, 2 and 3 emissions, in line with GHG Protocol common expectations.

Potential Impact

An inventory of Scope 3 emissions can help to improve understanding of Tiffany & Co.'s value chain climate impacts. A final inventory may help inform its efforts to set a science-based emissions reduction target, increase reporting transparency and aid in identifying additional opportunities to engage with stakeholders on emissions reductions.

Related Links

About the fellow

Bartek Walentynski is an MPA candidate at Columbia University. Bartek was the board member of SIPA Energy Association and became interested in environmental issues in high school. Before becoming an EDF Climate Corps fellow, he worked in management consulting and private equity.